INSURANCE INDUSTRY RM100,000 DONATION OFFERS NEW HOPE FOR CHARITIES

Insurance and Takaful Day Celebrations Benefits Four Worthy Causes Insurance and Takaful Day Celebrations Benefits Four Worthy Causes

Kuala Lumpur, September 10, 2013 – The insurance and takaful fraternity of Malaysia, through the 26th East Asian Insurance Congress (EAIC) organising committee, joined forces to mark the 2013 Insurance and Takaful Day today. The organising committee comprising The General Insurance Association of Malaysia (PIAM), Life Insurance Association of Malaysia (LIAM), Malaysian Takaful Insurance Association (MTA) and Labuan International Insurance Association (LIIA) commemorated the celebration with a contribution of RM100,000 to four charitable organisations.

This year, the organising committee selected four beneficiaries namely, the Community Service Centre for the Deaf (Silent Teddies Café project), Kuala Lumpur; Pertubuhan Kebajikan Dan Penjagaan Nur Hidayah, Kuala Lumpur; the Orang Asli Community Service Centre, Jerantut, Pahang; and the Cancer Research Initiatives Foundation (CARIF), Kuala Lumpur, each received a RM25,000 donation.

The heads of the four organising Associations namely the Chairman of PIAM, Mr Chua Seck Guan; President of LIAM, Mr. Vincent Kwo Shih Kang; Chairman of MTA, Encik Zainudin Ishak and Chairman of LIIA, Dato’ Ahmad Farouk Faizi were present to personally present the cheques to the four beneficiaries. The 2013 Insurance and Takaful Day was also witnessed by the associations’ Management and Council members.

Explaining about the relevance of the 2013 Insurance and Takaful Day, Chairman of PIAM, Mr. Chua Seck Guan said, “Over the years, the insurance and takaful industry experienced its fair share of challenges but has undoubtedly proven to be resilient through its continuous growth. While we strive to maintain this growth we continue to give equal focus in giving back to make this country a better place and not just taking from it.

“The objective of the Insurance and Takaful Day is to spread the values of sharing, caring, goodwill and harmony by supporting various charitable organisations. These charitable organisations are truly making a difference in the communities that we live in and trust that our contributions will help these organisations continue their noble work,” said Mr. Chua.

Accepting the donation, Professor Dr Teo Soo Hwang, Chief Executive and Breast Cancer Research Group Leader of CARIF said, “With research efforts, we now know more about cancer than we did before. But, there is still more to be done and we need all the help we can get. I am grateful to the insurance and takaful associations of Malaysia for supporting CARIF in fighting cancer. These funds will contribute to our research to find better ways to prevent, detect and cure cancer”.

Expressing his deep appreciation, Alvin Wong, Chairman of Society of Interpreters for the Deaf, Selangor & the Federal Territory (SID) said, “I would like to sincerely thank PIAM, LIAM, LIIA and MTA for extending their extraordinary kindness. Their donation will go towards the education, training and development programmes for our deaf students.”

This event is an initiative which demonstrates the insurance and takaful industry’s support for various charitable organisations as part of its annual charity programmes.

About the General Insurance Association of Malaysia (PIAM)

The Persatuan Insurans Am Malaysia (PIAM) was formed in May 1979 in compliance with Section 3(2) of the Insurance Act, 1963. (This provision has been superceded by Section 22 of the Insurance Act, 1996). PIAM constitutes the statutory association recognised by the Government of Malaysia for all registered insurers who transact general insurance business in this country.

PIAM is the national trade association of all licensed direct and reinsurance companies for general insurance in Malaysia. Currently, PIAM has 30 member companies. More information on PIAM can be obtained from its Web site: www.piam.org.my.

About the Life Insurance Association of Malaysia (LIAM)

Formed in 1974, the Life Insurance Association of Malaysia (LIAM) is a trade association registered under the Societies Act 1966. LIAM has a total of 16 members, of which 14 are life insurance companies and 2 life reinsurance companies. It is a statutory requirement under Section 22(1) of the Insurance Act 1996, for all life insurance and life reinsurance companies to be members of LIAM.

About the Malaysian Takaful Association (MTA)

Malaysian Takaful Association (MTA) was established in December 2002 under the Malaysian Societies Act of 1966. It is a statutory association, as provided by the Takaful Act 1984, where stated that all Takaful operators in the country are required to be a member of MTA before they can commence operations.

MTA has comprise of 16 Members, of which 8 Composite (Family and General Takaful) Takaful Operators, 4 Family Takaful Operators and 4 Retakaful Operators. More info please visit www.malaysiantakaful.com.my.

About the Labuan International Insurance Association (LIIA)

The Labuan International Insurance Association was registered with the Registrar of Societies on 25th May 1998.

LIIA has over 100 members involved in many different aspects of the insurance and reinsurance business – from Labuan Life Insurance Broking companies to International Reinsurance Broking and Underwriting companies, Captive Insurance and Reinsurance companies as well as Management and Accounting services.

Being the only Labuan insurance organization in the Labuan International Labuan Financial Centre, LIIA will continue to play its role in representing the interest of its members and the development of Labuan. For more details on LIIA please log on to http://www.liia-labuan.org/